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Phoenix housing market gained over $36B in value last year

(AP Photo/Matt Rourke)

PHOENIX — The metro Phoenix housing market gained over $36 billion in value in 2018, according to a popular real estate website.

Zillow analyzed housing market data from the last year and found that Phoenix’s market made up 71 percent of Arizona’s more than $708 billion in housing value in 2018.

The national housing market is more valuable than ever at $33.3 trillion, Zillow said.

Despite hitting its lowest point in 2012,  the national housing market has gained $10.9 trillion in value and is now worth $4 trillion more than it was at the housing bubble’s peak.

 

 

 

The Phoenix market has not yet totally recovered, as it is still 8 percent less valuable than it was at the bubble’s peak, Zillow said.

Arizona’s housing market has gained more than $296 billion throughout its recovery from the Great Recession, making up 2.7 percent of the overall U.S. recovery gain.

The California housing market accounted for… Continue Reading: Phoenix housing market gained over $36B in value last year

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